Sure the constraints and needs exists. But your vision depends on what factor you want to change in that pciture: Do you want a digital way which adapts to the economy offline? Or do you want an offline economy adapting to the digital way?
Well, maybe both kinds of visions are narratives worth being told. 
I agree with you on the general question about why advertizing is not so much over-used offline as it is online. But for this special case, people DO wear advertizement on ther clothing all the time. The tricky thing just is, they don’t realize it and even pay for it, because it’s considered “cool” to have all these logos. The same for cars. Okay, you could say: those brands just advertise themselves, its not additional advertising. Right, it could be more.
I think what this ultimately leads to is not necessarily that this much advertisement wouldn’t make sense offline, but that in the offline world we have a different kind of mentality. It’s like a different culture when we go online: People complain less about all the advertisement and even about the eavesdropping example I gave, which would be a no-go in the offline world. I wonder why. Maybe it all started with the idea: the internet isn’t the real thing?